Market Outlook 04/03/08

As expected, market opened week yesterday and remained week throughout the day and made a low of 4936.Now, only strong support for nifty is at 4800 and probably it will test 4800 again and if consolidates around that for few day's, might make a big move then.We will wait and see as the global factors are also effecting indian market too much these days and as i told you on friday, to understand the budget it will take 2-3 day's.For today, nifty will face resistance around 5015 and if crosses wil move towards 5040.On downside, break below 4950 might take it towards 4885 strong support.

Stock watch for the day:

NTPC (189):This stock has broken the strong ressitance yesterday and try to short it at higher levels with stop 197 for target 190 and then 185.